PRISTINE LOGISTICS PLANS TO SET IPO RAISING RS. 1,100 CRORE

Pristine Logistics & Infraprojects Ltd plans to raise₹1,100 crore through an initial public offering (IPO), according to people aware of the development. The company will file its draft red herring prospectus with the Securities and Exchange Board of India next week. The offer comprises fresh issuance of shares along with an offer for sale by shareholders. The IPO would comprise a fresh issue and an offer for sale from the existing investors. The company has appointed ICICI Securities, HSBC Securities, JM Financial, and HSBC Securities as lead managers, said bankers. Pristine did not respond to ET’s query.